Funding Will Support Advances of Tour Amigo Products and North America Expansion
BRISBANE, QLD, 4 September 2024 — Tour Amigo, one of the fastest-growing B2B SaaS companies in the travel industry, announced today that it secured US$2 million capital in a Seed round led by Singapore-based venture capital firm Wavemaker Partners followed by 500 Global.
This funding will fuel the continued development of the company’s groundbreaking business, reservation, and operation software solutions for multi-day tour operators and travel agencies.
Tour Amigo will release affordable and future-proof SaaS solutions for DMCs, FITs, and group operators through the support of its new investors and team. This follows the recent launch of Cruise Amigo, an unparalleled solution that simplifies booking, itinerary management, and distribution for river and expedition cruise operators.
“The rapid global growth of Tour Amigo is a testament to the strength of the product offering and the team,” said Murray Decker, CEO of Tour Amigo. “The funding will accelerate expansion into the North American market and support Tour Amigo’s growing enterprise clientele.”
Expansion into North America represents a strategic move, allowing Tour Amigo to tap into and better serve one of the world’s largest and most dynamic travel markets.
Tour Amigo says its commitment to innovation, customer-centricity and remaining technology-agnostic will continue to drive its growth. Revolutionizing client support, reporting, and product development by continually evolving the product and integrating advanced AI technologies will future-proof its clients’ businesses and ensure it remains a trusted partner.
“Outdated booking and reservation systems often lack the integration capabilities to work seamlessly with various software providers, forcing operators to juggle multiple platforms and manual methods. This leads to slow booking times, communication gaps between customers, suppliers, and agents, and limited customisation options,” said Andy Hwang, General Partner at Wavemaker Partners.
“Tour Amigo aims to transform the travel industry by addressing the fragmented and inefficient process of booking multi-day tours. Its unique software streamlines bookings by integrating tour distribution, internal process management, and supplier coordination into a single agile platform. This increases operators’ bookings by 50% while reducing costs by 40% on average. In just its first year, Tour Amigo has secured numerous clients with long-term commitments. We’re truly excited to back them as they set a new global standard for tour operations.”
For more information about Tour Amigo and its latest developments, please visit www.touramigo.com.
About Tour Amigo
Tour Amigo is a leading innovator in the travel industry, dedicated to revolutionizing operator software, API distribution, and how travelers experience and book their adventures. With a mission to make travel planning seamless and inspiring, Tour Amigo offers a comprehensive suite of technology solutions designed for both tour and cruise operators as well as travel distributors. Tour Amigo’s SaaS is a complete ERP system that meets all travel operators’ needs to grow their businesses and increase profitability.
About Wavemaker Partners
Wavemaker Partners is Southeast Asia’s leading VC firm investing in early-stage Enterprise, Deep Tech, and Sustainability startups. Since 2012, it has backed more than 200 companies across the region, with over US$600 million in AUM and exits generating over US$1.8 billion in enterprise value. Today, 85% of Wavemaker’s active portfolio startups in Southeast Asia are contributing to at least one UN Sustainable Development Goal. In 2021, the firm launched Wavemaker Impact, the region’s first-of-its-kind venture builder that co-founds climate-tech startups with experienced entrepreneurs. For more information, visit www.wavemaker.vc or email orbit@wavemaker.vc.
